Innovation articles
Recently, I was speaking with a corporate client about a challenge they were having with their innovation process. They had just run an idea-generation challenge and received a decent number of responses from their employees about new innovations they could pursue. The issue was that the company now had no idea which of the ideas [...]
One of the biggest questions I am getting from businesses at the moment is what the potential impact of a recession or the slowdown of the economy might have on their innovation efforts. And according to a new report by Innovation Leader and KPMG USA called "Benchmarking Innovation Impact, from InnoLead." (available for download from [...]
Is it better to have grit, or know when to quit? A few weeks ago I was listen to an excellent episode of the Innovation Show podcast, with guest Annie Duke. It was about her new book "Quit: The Power of Knowing When to Walk Away", and there was one topic they spoke about which [...]
Hi there, With 2022 almost behind us, a lot of companies and teams are planning their next steps for 2023. This is especially true for venture and innovation teams, who let's face it, many of whom had a very tough 2022. With the global economy stalling and fear of an upcoming recession, many companies have [...]
How much of your innovation budget and innovation efforts should focus on improving your existing business, and how much should seek to explore and transform your business for the future? This is one of the fundamental strategic questions which every business leader needs to consider. One of the best ways to assess what proportions your [...]
While the massive layoffs at meta are terrible, it sadly shows one of the major issues that companies struggle with when they try to grow and innovate too quickly ... facebook tried a huge number of innovation projects which failed. But this was not the problem. As I read in a wonderful WIRED article: Remember [...]
This new management method makes it nearly impossible for innovation teams to fail at delivering multiple challenging innovation projects faster, with less risk and lower required budgets. Most innovation experts often say that traditional management processes are not the way to run innovation projects. And this is true. Traditional project management and financial management processes [...]
Every choice you make comes with trade-offs. This is especially true when it comes to strategic decisions around innovation. If you choose to spend your time, focus, effort and money developing one idea or innovation, it means you cannot spend those same resources on other ideas. Therefore, you must give up the opportunity to do [...]
As companies grow, it is inevitable that more hierarchies will be created. This is because after a certain size, it is essentially impossible to keep track of the relationships between everyone and what everyone is working on. Contrary to popular belief, hierarchy is not always a negative. In fact, as Start-ups grow, they will eventually [...]
The Harvard Business Review's Podcast "HBR Ideacast" has recently started a series on four business ideas which changed the world. I already told you about their excellent episode on Disruptive Innovation. Today I want to highlight another great episode on a topic I learned a lot more about: Taylorism. What is Taylorism? In 1878, a [...]
